{"id":7703,"date":"2009-08-29T00:10:35","date_gmt":"2009-08-29T04:10:35","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=7703"},"modified":"2009-08-29T00:10:35","modified_gmt":"2009-08-29T04:10:35","slug":"sbcpra-capital-unit-dividend-resumed-in-april","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=7703","title":{"rendered":"SBC.PR.A: Capital Unit Dividend Resumed in April"},"content":{"rendered":"<p>Well, I was late reporting the <a href=\"http:\/\/www.prefblog.com\/?p=6190\">suspension of the capital unit dividend<\/a> &#8230; and I am equally late reporting the reinstatement!<\/p>\n<p>Brompton <a href=\"http:\/\/www.bromptongroup.com\/funds\/sbc\/pdf\/042009.pdf\">Announced on April 20<\/a>:<\/p>\n<blockquote><p>that a monthly distribution in the amount of $0.10 per Class A share will be paid on May 14, 2009 to Class A shareholders of record at the close of business on April 30, 2009.<\/p>\n<p>Recent improvement in equity markets has resulted in an increase in net asset value per unit (consisting of one class A share and one preferred share) of SBC to $16.32 as at April 16, 2009, which allows the Fund to reinstate the monthly class A share distribution. In accordance with the Class A Share Provisions and the prospectus, no cash distribution may be paid on the class A shares, if after payment of the distribution by the Fund, the net asset value per unit would be less than $15.00. The Fund will continue to monitor its net asset value per unit on a monthly basis to determine whether the Fund will pay a Class A distribution in each subsequent month. The Fund intends to continue to pay the $0.10 monthly, non-cumulative distribution per class A share in months where the net asset value per unit exceeds the $15.00 threshold after the payment of such distributions.<\/p><\/blockquote>\n<p>SBC.PR.A was last mentioned on PrefBlog when it was <a href=\"http:\/\/www.prefblog.com\/?p=7675\">upgraded to Pfd-3(high) by DBRS<\/a>. SBC.PR.A is tracked by HIMIPref&trade;, but is relegated to the &#8220;Scraps&#8221; index on credit concerns.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Well, I was late reporting the suspension of the capital unit dividend &#8230; and I am equally late reporting the reinstatement! Brompton Announced on April 20: that a monthly distribution in the amount of $0.10 &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-7703","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/7703","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7703"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/7703\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7703"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}